The Alliance of American Football, which suspended operations earlier this month, filed a petition for bankruptcy yesterday.
Why it matters: Based on the filing, the league had roughly $11.4 million in assets and $48.4 million in liabilities. Those liabilities include roughly $9.6 million in money owed to creditors.
Elite young athletes are being offered college scholarships as early as middle school, and because many of those offers come with a "take it or leave it" deadline, teenagers often make rash decisions. That could change this week.
What's happening: The NCAA Division I Council will vote on a proposal on Thursday, April 17 that would ban all recruiting contact between coaches and athletes until June 15 of the student's sophomore year of high school.
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